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Capuccio Dream Homes Realty Property management services:

1. Property identification

  1. Create property profile sheet
  2. Create tenant profile for property
  3. Determine fair market rent
  4. Pet availability
  5. Security deposits (typically equally to 3/4 of monthly rent however adjusted higher based on tenants application)
  6. Note any contractors preferred by owners
  7. Note any maintenance agreements or warranty information.

2. Market rentals through one or more of the following methods:

  1. Multiple listing service
  2. Signage
  3. Internet sites including Ahrn.com (military site)
  4. Craig's List
  5. Realtor network
  6. Company rental property list
  7. Lawton Constitution (limited use unless owner desires to pay cost).

3. Screen tenants through one of more of the following methods:

  1. credit report
  2. previous landlord verification
  3. income verification
  4. references
  5. Note: it is not unusual to reject several applications prior to finding the right one. "No tenant is better than a bad tenant".

4. Complete paperwork

  1. Collect security deposit
  2. Collect first months rent
  3. Consummate lease and associated documents

5. Inspection:

  1. Provide tenant a "check-in" list to note defects and pre-existing conditions.
  2. 20 to 30 minute move-out inspection after tenant has vacated.
  3. Periodic drive by's to note exterior condition (management discretion)
  4. Lease renewal inspection - required with renewals or extensions.
  5. Periodic interior inspections (possibly at 6 months intervals- management discretion )
  6. Frequency of inspections (while occupied) noted in "c and e" above are usually based on tenants application/credentials or triggered by any changes in tenants application (divorce, job change, etc...) or as a result of contractor report or neighbor complaint.
  7. Owner is encouraged to inspect the property periodically themselves (thru the management company) or have a friend/relative drive-by occasionally for intel.

6. Tenant relations:

  1. communicate with tenants
    1. e-mail
    2. phone
    3. mail
  2. log repairs and prioritize
  3. coordinate and complete necessary repairs
  4. verify that repair was done properly
  5. Repairmen are not called out on service calls after hours or on weekends unless there is a dire emergency such as flood or fire.

7. Owner relations:

  1. communicate with owners
    1. e-mail
    2. phone
    3. mail
  2. log repairs and prioritize
  3. coordinate and complete necessary repairs
  4. verify that repair was done properly
  5. pay contractor on behalf of owner
  6. notify owners immediately of major repairs
  7. obtain multiple estimates of major repairs
  8. obtain owner authorization for major repairs and payment arrangements
  9. complete essential service repairs in accordance with Oklahoma Law
  10. Owners are ultimately responsible for repair costs
  11. Owners are responsible for warranty or insurance deductibles
  12. Owners must make debt service (mortgage payments)
  13. Confer with owners regarding "borderline" tenant applications or unusual circumstances or requests from an applicant (to get owner input)

8. Accounting

  1. account for security deposits in accordance with Oklahoma Law
  2. Collect rents as per lease agreement
  3. Deduct a 10% management fee
  4. Deduct any applicable fees that have been agreed upon.
  5. Deduct repair costs unless other arrangements have been made
  6. Disperse balance to owner with statement postmarked by the 14th of each month.
  7. Late charges are retained by management
  8. Disperse security deposits in accordance with Oklahoma Law

9. Rent due policies:

  1. Rent is due on the 1st of each month, considered late after the 4th and eviction proceedings may begin after the 9th.
  2. Management has very little tolerance with late payees - there are a few exceptions;
  3. Military personnel – when Finance makes an error on their check
  4. Established tenant – experiences a setback or life trauma
  5. Other – may give a tenant one opportunity depending on the circumstances.
  6. Little tolerance with returned checks or with a missed payment arrangement.

10. Eviction and court proceedings

  1. Owner is responsible for all court costs and summons fees
  2. Owner is responsible for attorney fees if applicable
  3. Monetary judgments can only be sought through physical service of tenant.
  4. Management will appear in small claims court on behalf of owner unless complications arise and an attorney is needed.
  5. Monetary judgments will be dispersed when/if collected
  6. Management will only pursue monetary judgments if there is a good chance to collect. Owner is responsible for collection costs or further court costs.
  7. Management is not responsible for debts, damages or theft as a result of tenants' occupancy.

11. Move-out/Check out procedure

  1. A 30 days notice is required from either party after expiration of the lease.
  2. Check - out list mailed to tenant
  3. Inspect unit within 72 hours after keys are returned
  4. Note needed repairs and determine tenant repair deficiencies
  5. See #7 above
  6. Once home is market ready see #2 above.

12. Utilities and mowing for vacant properties:

  1. It may be necessary for management to procure utilities to be turned on.
  2. During the winter, it is our policy to arrange for winterization of vacant property unless the owner signs a waiver for us to do so.
  3. It also may be necessary for management to arrange yard maintenance.
  4. In either of the cases in a, b, or c, it may be necessary to obtain additional monies from the owner to cover these costs.
  5. All resulting costs are ultimately the owner's responsibility. (Even if a leak develops or the utility bill seems unusually high – the owner is responsible for payment).

Capuccio Dream Homes Mission Statement

Capuccio Dream Homes Realty provides professional and ethical real estate services for sellers, buyers, owners & tenants through cutting edge technology, a highly trained staff and good old-fashioned customer service. Success is not based on "volume" or "transactions" sold but in the quality of service and customer satisfaction. The experience will ultimately exceed customer expectations resulting in repeat customers and referrals, which will yield a profitable return on investment for the owners and employees of the firm.

To summarize our management style, we have our DUCKS in a row.

Document everything precisely
Un-necessary maintenance call reduction
Collection of rent enforced quickly
Keep the owner in the loop
Screen the applicant effectively

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